December 2024 - Between the 7’s – The local real estate market experienced a dip in key metrics in December, with average prices and other figures showing a notable decrease compared to November. However, homeowners are cautioned that the numbers are impacted by an unusually low outlier in this month's data, which skews the overall results.
When the low outlier is removed from the analysis, the market performance for December appears significantly stronger. According to adjusted figures, the average list price in the area was $1,464,600, with the average sale price reaching $1,381,999. Homes in the region averaged 3,381 square feet, with an average price per square foot of $412.
Homes also remained on the market for an average of 33 days during the month of December, indicating a relatively stable demand, despite the initial perception of a slowdown.
It is emphasize that outlier data should always be considered when interpreting real estate trends, and when this anomaly is removed, the market’s performance in December remains consistent with the broader trends observed throughout the year.
This clarification helps provide a more accurate picture of the area's real estate dynamics moving into 2025.